The interesting thing about debt is that you never have to pay it back if there is widespread demand to hold it.
This line reminds me of a well established fiat currency...
Continue with my read.
Posted Using LeoFinance Beta
The interesting thing about debt is that you never have to pay it back if there is widespread demand to hold it.
This line reminds me of a well established fiat currency...
Continue with my read.
Posted Using LeoFinance Beta
The overarching concept is similar to fiat but the implementation is completely different.
All USD is owed back to the bank (with interest that doesn't exist).
All HBD is owed back to no one (redeemable for collateral).
HBD more mimics the systems we used before central banks when it was pegged to gold/silver.
But even then not really because of the programmable borderless nature of crypto.